Ashford Capital Management Inc. Raises Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Ashford Capital Management Inc. increased its position in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 586,000 shares of the company's stock after purchasing an additional 127,910 shares during the quarter. Atlas Energy Solutions makes up 1.6% of Ashford Capital Management Inc.'s portfolio, making the stock its 27th largest holding. Ashford Capital Management Inc. owned approximately 0.53% of Atlas Energy Solutions worth $12,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. increased its holdings in shares of Atlas Energy Solutions by 313.7% during the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company's stock worth $34,000 after buying an additional 1,308 shares in the last quarter. Quest Partners LLC bought a new position in Atlas Energy Solutions in the third quarter valued at approximately $48,000. Amalgamated Bank grew its holdings in Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company's stock worth $47,000 after acquiring an additional 1,801 shares during the period. FMR LLC grew its stake in shares of Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company's stock worth $59,000 after purchasing an additional 1,355 shares during the period. Finally, CWM LLC boosted its holdings in Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company's stock worth $60,000 after buying an additional 886 shares during the last quarter. Institutional investors and hedge funds own 34.59% of the company's stock.

Analyst Ratings Changes

AESI has been the topic of a number of analyst reports. The Goldman Sachs Group downgraded shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and cut their price target for the company from $23.00 to $21.00 in a research report on Thursday, November 7th. Barclays cut shares of Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Citigroup cut shares of Atlas Energy Solutions from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $22.00 in a research report on Thursday, November 14th. Pickering Energy Partners cut Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $25.00 price target on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.44.

Atlas Energy Solutions Trading Up 2.3 %

AESI traded up $0.53 during midday trading on Tuesday, hitting $23.23. 1,196,924 shares of the company were exchanged, compared to its average volume of 961,314. The firm has a market capitalization of $2.56 billion, a P/E ratio of 28.73, a P/E/G ratio of 11.31 and a beta of 0.95. The firm's 50 day moving average price is $21.37 and its 200-day moving average price is $21.02. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 1-year low of $15.55 and a 1-year high of $24.93.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The firm had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. During the same period in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was up 93.1% compared to the same quarter last year. As a group, equities analysts forecast that Atlas Energy Solutions Inc. will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.13%. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions's payout ratio is presently 121.52%.

Insiders Place Their Bets

In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares in the company, valued at $11,111,205. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 128,213 shares worth $2,816,806. Corporate insiders own 24.34% of the company's stock.

Atlas Energy Solutions Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.